All Time Plastics IPO: Price, Analysis, And GMP

All Time Plastics IPO - Company Analysis

All Time Plastics IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 400.60 Cr (1.46 Cr Shares) by All Time Plastics Ltd., which was founded in 1971 and specializes in producing plastic household goods.

The company primarily produces consumer goods for B2B white-label customers, but it also sells goods to B2C customers under its own brand, "All Time Branded Products." It has long term contacts with global retailers Tesco, Michaels Stores, Spencer's Retail, and IKEA.

In a pre-IPO session led by ace investor Sunil Singhania's Abakkus Asset Management, consumerware products manufacturer All Time Plastics raised Rs. 100 crore, according to regulatory reports.

The company gets major part of its revenue from White label products (Prep Time) which is 91.66% in FY25.

The company sells about 1,600 SKUs of cleaning products, kitchenware, and food storage containers and operates in Daman and Silvassa.

 

Goods:

Prep Time: Measuring jugs, measuring cups, measuring spoons, mixing bowls, colanders, cutting boards, and kitchen tools.

Containers: Bestow boxes, lock and secure containers, keep fresh containers, and crisper containers

Hangers: Clever hanger with loop, adolescent hanger, hanger

Cleaning Time: Dustpans, drums, bins, and dish drainers.

 

All Time Plastics IPO Details

The All Time IPO open date is from Aug 07 to Aug 11, with IPO allotment on Aug 12, refund initiation on Aug 13, 2025.

The Rs. 400.60 crore mainline IPO comprises a combination of a fresh issue of 1.02 crore shares (Rs. 280 Cr) and an offer for sale of 0.44 crore shares (Rs. 120.60 Cr).

The All Time Plastics IPO listing date might be on Thursday, 14 August 2025, and it will be listed at the BSE and NSE. The All Time Plastics IPO price band is Rs. 260 to Rs. 275 for each Share.                                                                                                                                                                                                                                                                               

Events	Date
IPO Opening Date	Aug 07, 2025
IPO Closing Date	Aug 11, 2025
IPO Allotment Date	Aug 12, 2025
Refund Initiation	Aug 13, 2025
IPO Listing Date	Aug 14, 2025

 

All Time Plastics IPO - Business Analysis

• It’s a quiet OEM engine for global corporations. They manufacture products for clients not under their own brand names or logo. Their business revolves around white-label production, which means you would never encounter the name “All Time” on the product. The company mainly targets the USA, UK, Germany, and France.

• About 75% of revenue comes from exports and they expect to strengthen overseas partnerships through their UK subsidiary for EU coordination. ATPL has a UK subsidiary. Not for Manufacturing – but to:

• Be near to large EU clients.

• Minimise trade issues post-Brexit.

• Company serves as a contact for expedited shipping.

• Strategic Intent- “Become the go-to OEM/ODM supplier for global retailers in the houseware segment.”

• In-house Tool Room as Competitive Edge.

• They create prototypes and custom products as per clients.

• Daman, Silvassa, and other upcoming plants are set to amplify their production capabilities. 

• White Label and OEM - No retail Branding Strategy

• Self-branding is not their focus. B2B Clients (like Unilever) and Retail Clients  purchases drive production. This approach results in a minimal marketing focus, but a heavy volume contract focus. 

•  No Brand = Less pricing power but more scalability through bulk orders 

• Multi Product Multi Client Diversification - Work in Progress

• Currently serving 5 clients, the company aims to increase the product range beyond the existing clients, as well as acquire new B2B clients worldwide.

 

 

Industry Outlook

At a CAGR of almost 4.5%, exports from the Indian plastic houseware industry increased from USD 191 million in CY 2019 to USD 237.8 million in CY 2024. The market is anticipated to grow at a CAGR of 9.6% from CY 2024 to CY 2029.

 

If you want to apply for the IPO, click to open a Demat Account.

 

Company Financial 

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	562.32	415.46	400.48
Total Revenue	559.24	515.88	443.76
PAT	47.29	44.79	28.27
EBITDA	101.34	97.10	73.38
Net Worth	249.13	202.35	157.84
Reserves and Surplus	247.73	200.87	156.60
Total Borrowing	218.51	142.35	171.74

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in millions)

Net Cash Flow In Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	516.84	907.54	665.21
Net Cash Flow Investing Activities	(1,133.41)	(459.67)	(461.84)
Net Cash Flow Financing Activities	593.53	(499.81)	(101.43)

 

Revenue Bifurcation 

Product-wise Breakdown

 

Category-wise Revenue Bifurcation

 

Client-wise Revenue Bifurcation

(Source RHP)

The Objective of The Issue

• Repayment in full or in part of some outstanding loans that the company has taken out. - Rs. 143 Cr.

• The acquisition of machinery and equipment for the Manekpur Facility - Rs. 113.71 Cr.

• General corporate purposes.

Click to check the IPO application status.

 

Listed Peers of All Time Plastics Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Shaily Engineering Plastics Limited	2	20.29	80.69
Cello World Limited	5	15.50	40.71

 

Valuation

Metric	Value
ROE	19.01%
ROCE	16.99%
Debt/Equity	0.88
PAT Margin	8.46%
EBITDA	18.16%
Price to Book Value	7.15
RoNW	19.01%

 

 

Evaluation of P/E Ratio

Considering the period of FY 2025, with an EPS of Rs. 9.01 from the last year, the resulting P/E ratio is 30.52x. When compared with the industry’s average P/E of 60.70x, it indicates an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors.

Explore the Highway Infrastructure IPO.

IPO's Strengths 

• Facilities for manufacturing that are strategically positioned and integrated allow for the manufacture of high-volume, reasonably priced, and superior plastic consumer goods.

• A large and expanding selection of plastic consumer goods, with internal mold and product design teams.

• Strong connections with Indian and international clients such as Tesco, Michaels, IKEA, and Asda.

• Robust financial metrics and performance.
  
  

IPO’s Weaknesses

• 70.93% of revenue came from just 5 customers in FY24. The company’s income can drop significantly if any one of these customers stops placing orders. There is high concentration risk with this type of business.

• Exports are the primary source of revenue generating 75% of the company’s income.

• Western countries’ policies like plastic bans or anti-plastic sentiments will also hurt business.

• All Time Plastics is not brand owners and specialises in white-label or OEM manufacturing.

• Products are sold under the client’s brand, not theirs. Because of this, they can’t set prices freely or build customer loyalty.

• Primary raw materials such as polypropylene and polyethylene are tied to oil prices. Fluctuations in oil prices might affect the profitability.

 

All Time Plastics IPO GMP 

All Time Plastics IPO GMP today has not started yet as of 04 Aug 2025, while writing this information.

All Time Plastics Limited IPO Summary

IPO Opening & Closing Date	Aug 07, 2025 to Aug 11, 2025
Face Value	Rs. 2 per Share
Issue Price	Rs. 260 to Rs. 275
Lot Size	54 Shares
Issue Size	1,45,67,380 Shares (Rs. 400.60 Cr)
Offer for Sale	43,85,562 Shares (Rs. 120.60 Cr)
Fresh Issue	1,01,81,818 Shares (Rs. 280 Cr)
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	Kfin Technologies Limited

 

 

All Time Plastics IPO Lot Size

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (54 Shares) amounting to Rs. 14850 and 13 Lots (702 Shares) amounting to Rs. 193050, respectively, while for S-HNI investors, the minimum Lot is 14 (756 Shares) amounting to Rs. 207900.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	67 Lots
BHNI (Minimum)	68 Lots

All Time Plastics IPO Reservation

Institutional Share Portion	50%
Retail Investors' Share Portion	35%
Non-Institutional Shares Portion	15%

 

All Time Plastics IPO Allotment Status

To check the All Time Plastics IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using Registrar’s Website Kfintech IPO allotment status

Using BSE Website ​BSE IPO allotment status

 

Promoters And Management of All Time Plastics Ltd.

• Kailesh Punamchand Shah

• Bhupesh Punamchand Shah

• Nilesh Punamchand Shah.

Pre-Issue Promoter Shareholding	90.98%
Post-Issue Promoter Shareholding

 

All Time Plastics IPO Lead Managers

• Intensive Fiscal Services Private Limited.

 

 

Dividend Policy

The company has not paid a dividend in the last three years.

Conclusion

Investors have the opportunity to invest in a global OEM leader in plastic consumer goods through All Time Plastics IPO. The foundation is sound with robust export earnings, enduring international customers, and strong internal production capabilities. However, the main risks include having no own brand and being heavily dependent on clients. Prior to subscribing, investors want to balance scalability and stability.